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China opposes Australia's anti-dumping probe

(Xinhua)
Updated: 2008-12-26 11:28

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China said Thursday it regretted and firmly opposed an Australian decision to launch an anti-dumping and anti-subsidy probe into China-made weld carbon steel pipe.

The investigation lacks sufficient legal and factual bases and violates World Trade Organization rules, said the Chinese Ministry of Commerce (MOFCOM) in a statement posted on its Web site.

The MOFCOM said the two countries have enjoyed closer economic and trade ties in recent years with two-way trade expanding quickly, but the anti-subsidy investigation on Chinese products would severely hurt bilateral economic and trade relations and dampen the two countries' efforts to establish a free-trade zone.

"The investigation will add uncertainties to bilateral trade development by sending wrong signals of trade protectionism," it said.

China urged Australia to be prudent in launching any anti-subsidy investigation, restrain in taking trade protection measures and abide by the WTO Agreement on Subsidies and Countervailing Measures, it said.

The MOFCOM said China reserved the right to use WTO dispute settlement mechanisms to protect its legitimate interests.

The MOFCOM also urged all countries worldwide to reject trade protectionism and any new trade barrier amid the deepening global financial crisis.